Friday, 16 March 2018

RERA BIHAR


After 31 July 2017, if an ongoing residential project or a new project that is more than 500 sq. meter or has more than eight apartments, wants to advertise or sell its units, it has to get registered with the real estate regulator of that state or union territory; as per the RERA ACT.
How many projects are going on in Patna? Who are the builders? What is the status of construction? Time till completion!!!
Home buyers in Patna have always been curious about these issues!!! Now they have a platform; RERA BIHAR website to look into these anxieties.
Buy Sell Rent Patna
BIHAR RERA WEBSITE

Developers and builders in Patna just do not have to register themselves with RERA BIHAR but have to give all the details related to the project, to be put up on the regulator’s website for the public to see.  Now if anyone is planning to buy a property in Patna, Bihar most of the questions can be answered on this website, though at the time of writing the website needs a lot of updation and validation, but it is functional.
Once the home buyer has decided to buy a flat in Patna, the RERA BIHAR website can really be helpful in making a choice. The buyer needs to log on to t Bihar’s RERA website; (https://nagarseva.bihar.gov.in/rerabihar/home), the list of registered projects in your selected area will be displayed.
A buyer can also view the pertinent details of the project he is interested in Patna such as name of the builder in Patna along with its address, (and) track record in the market. Finding a reliable builder in Patna is among the most important factors for a home-buyer in Patna. Therefore, a track record of timely delivery and quality of construction matters a lot.
“Home-buyers can easily find the complete set of documents relating to the residential project on the Bihar RERA website, right from approvals to application for occupation certificate, along with the expected timeline projection. It will be possible to know the details about the sale of a project, which was not easily made known,” says KEY ACCOUNT Manager, Vikash Kumar of hyper-local real estate portal for Patna, www.buysellrentpatna.in
If you are planning to buy an apartment in an under-construction project, it is good to know how many units have been booked and how many are left. This indicates demand and interest of buyers in the particular project. Also, a real estate agent will not be able to mislead you, stating that only a few units are left and you should book quickly. For under-construction projects, it is important to know if its construction is going as per schedule. You can find “the date that the developer has committed for the project to be completed, as well as any revisions of this date; the current stage of development, information on the support infrastructure like water, electricity and internal roads, along with the progress made on them,” added Vikash Kumar.
Real estate agents in Patna have been known to trick home-buyers with misleading claims about projects. Earlier, the agents were not held accountable and did not have to register. In fact, the services of a real estate agent were not even a part of the formal process in most cases. Under RERA, they too have to register with the authority.
Thus, on the website you can also find out the names of real estate agents who are authorized to deal in particular projects. According to the Act, a ‘real estate agent’ is anyone who acts on behalf of one person in a transaction of plot, apartment or building and receives a remuneration as commission or otherwise. This includes property dealers, brokers and any other middlemen. They are not allowed to facilitate the sale or purchase of or act on behalf of any person to facilitate the sale or purchase of any plot, apartment or building, in a real estate project or part of it, without having a registration number.
The real estate regulator’s website is supposed to provide a lot of information to the public. Bihar RERA (https://nagarseva.bihar.gov.in/rerabihar/home) website is functional. But BIHAR RERA website is not so well populated with information on developers, projects and agents till now. In our state, home-buyers have to wait longer to be able to use the regulator’s website fully in their home-buying process.
BIHAR RERA WEBSITE